Evolving Products Into New Businesses - International Institute Of Business Analysis

653 views
536 views

Published on

A 2-hour workshop sharing some fundamental principles from the startup world, and some specific techniques around undersatnding your options, going to market, and adapting based on what you learn.

Published in: Business
0 Comments
2 Likes
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total views
653
On SlideShare
0
From Embeds
0
Number of Embeds
4
Actions
Shares
0
Downloads
20
Comments
0
Likes
2
Embeds 0
No embeds

No notes for slide

Evolving Products Into New Businesses - International Institute Of Business Analysis

  1. 1. turning products to new businesses ! salim@foundercentric.com @SaintSal
  2. 2. foundercentric.com @foundercentric
  3. 3. – Lean Startup London, 2009 “I wish I knew that sooner.”
  4. 4. slow decisions kill startups.
  5. 5. what startups can teach us about product spinouts 3 Principles that founders apply Different thinking hats for learning How to decide what to learn.
  6. 6. the birthday paradox
  7. 7. Title TextFIT or SPEC?
  8. 8. Options Detail
  9. 9. you don’t know which pieces will be the right combo. yet.
  10. 10. DISCOVER VALIDATE
  11. 11. A STARTUP RIDDLE A customer wakes up, logs into a new product which they’ve been trying for 2 weeks… and they love it! The trial is over. They don’t buy. Why?
  12. 12. LEARN CONFIRM
  13. 13. COLLECT ANALYSE
  14. 14. OBSERVE EXPERIMENT
  15. 15. DISCOVER VALIDATE
  16. 16. LEARN CONFIRM
  17. 17. INFO COST
  18. 18. ACTIONABLE INFO COST
  19. 19. ACTIONABLE INFO AFFORDABLE LOSS Look in Affordable Loss by searching for Effectuation
  20. 20. learning
  21. 21. BUILD LEARN MEASURE Learning Loop - Eric Ries
  22. 22. How do we start? We’re building a community of street artists and connecting them to brands.
  23. 23. @robfitz
  24. 24. What do we build? We want to make a better television.
  25. 25. How do we compete? We’re building a word processor and don’t want to get squashed by MS Word.
  26. 26. Do you commit the cash? You have a crazy product idea but the manufacturing setup is expensive.
  27. 27. Paul Graham Launch fast and iterate. You haven’t really started working on it till you’ve launched.
  28. 28. Don’t try to figure out whether the idea is “good” or “bad”. That’s impossible... Roger Martin (paraphrased)
  29. 29. Instead, ask what would have to be true in order for it to be a huge success. Roger Martin (paraphrased)
  30. 30. Where do we start? We want to launch a support programme for the developing world but we don’t have any contacts.
  31. 31. How do you fund it? You want to use tech to modernize a stagnant service industry, but have no runway.
  32. 32. How do we get critical mass? We want to grow a marketplace, but we have no inventory, and no team.
  33. 33. How do we start a better airline? ! (with no support or money) Let’s think bigger.
  34. 34. testing the useful thing.
  35. 35. SPOT GAPS UNDERSTAND OPTIONS BALANCE FOCUS & OPPORTUNITY
  36. 36. SPOT GAPS UNDERSTAND OPTIONS BALANCE FOCUS & OPPORTUNITY
  37. 37. CUSTOMERS
  38. 38. REVENUE MODELS
  39. 39. VALUE PROPOSITIONS
  40. 40. AWARENESS TRIGGER
  41. 41. RELATIONSHIP
  42. 42. ACTION TRIGGER
  43. 43. CUSTOMERS REVENUE VALUE AWARENESS RELATIONSHIP ACTION
  44. 44. LONDONERS
  45. 45. LONDON RETAILERS
  46. 46. CHARGE FOR THE GIFT
  47. 47. REAL GIFT, INSTANTLY REDEEMABLE
  48. 48. GETTING A GIFT
  49. 49. MOBILE
  50. 50. RUNNING LATE, MISSED BIRTHDAYS, GOOD NEWS
  51. 51. LET’s Go. We’re setting ourselves up to find product/market fit. We’re making ourselves aware of opportunities and options.
  52. 52. Who will our next 10 customers be? What goals do they have? What are they trying to do?
  53. 53. What needs do your customers have? How can we help?
  54. 54. To multiply my customer base by 10, I can attract them through _____________ .
  55. 55. What are the different ways we can make money?
  56. 56. CONGRUENCY They need to make sense together.
  57. 57. do companies need personal contact?
  58. 58. IS THE BUYING DECISION TOO COMPLICATED?
  59. 59. do pop-ups work for email products?
  60. 60. How are customers used to paying for what they buy now?
  61. 61. When customers have this problem, or are tackling this task, where do they seek help and advice?
  62. 62. Which customers have different expectations about service levels or relationship?
  63. 63. Are there customers at the low-end who would pay less for lower performance?
  64. 64. How could we increase switching costs?
  65. 65. THE BIGGEST RISK FALLACY
  66. 66. Will people think of sending a gift from their phone when there’s a gift-giving opportunity?
  67. 67. Who will trust GiftCannon?
  68. 68. Will people receive a gift over their mobile?
  69. 69. THE FASTEST LEARNING ! ! ! THE BIGGEST RISK or
  70. 70. Will people receive a gift over their text message?
  71. 71. Will people receive a gift over their Facebook?
  72. 72. Send a gift with a link over email or Facebook.
  73. 73. Will recipients redeem their gift?
  74. 74. Will shops work with us to redeem gifts?
  75. 75. Will gift recipients stick around and start sending gifts themselves?
  76. 76. ACTIONABLE INFO AFFORDABLE LOSS
  77. 77. it’s tough to get critical mass in london. so jordan moved the business to oxford to learn.
  78. 78. But will this work beyond students?
  79. 79. invest in info. decide fast. adapt frequently.
  80. 80. Founder Centric HERE TO HELP! Salim Virani salim@foundercentric.com @SaintSal !

×